USD/JPY: Japan’s consumer confidence index climbed in December

USDJPY

USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.48% against the JPY and closed at 108.42.

In the Asian session, at GMT0400, the pair is trading at 108.36, with the USD trading 0.06% lower against the JPY from yesterday’s close.

Early morning data showed that Japan’s consumer confidence index rose to a level of 39.1 in December, compared to a reading of 38.7 in the prior month.

The pair is expected to find support at 107.80, and a fall through could take it to the next support level of 107.23. The pair is expected to find its first resistance at 108.78, and a rise through could take it to the next resistance level of 109.19.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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